When marginal cost of production falls below the average total cost of production, we know that:...
When marginal cost of production falls below the average total cost of production, we know that:
A. marginal cost is negative
B. average total cost is decreasing
C. the firm has diseconomies of scale
D. average total cost is increasing
Homework Answers
When marginal cost is below the Average total cost of production:-
Average total cost is falling as the economy is experiencing economies of scale
option(B)
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When marginal cost of production falls below the average total
cost of production, we know that:...
When marginal cost of production rises above the average total cost of production, we know that:...
When marginal cost of production rises above the average total cost of production, we know that: A. the firm has economies of scale B. average total cost is decreasing C. marginal cost is negative D. average total cost is increasing Average total cost curves are usually depicted as downward sloping at low levels of output because: A. Average fixed costs are declining B. Opportunity costs decline as output (Q) increases C. Average fixed...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm experiences [ (Click to select) diseconomies of scale diminishing marginal returns increasing marginal returns b. The minimum efficient scale is the level of output produced by the smallest firm in the industry. smallest level of output at which a firm can produce. only level of output where long-run average total costs are minimized. smallest level of output needed to attain...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because...
The short run marginal cost curve in the traditional microeconomic model of production eventually rises because of a. diseconomies of scale. b. diminishing marginal revenues. c. rising fixed costs. d. increasing marginal productivity of variable inputs. e. diminishing marginal returns. . If the long-run average cost of production falls as the firm increases its level of output, then the firm exhibits a. constant returns to scale. b. constant marginal costs. c. economies of scale. d. diseconomies of scale. e. diminishing...
a) Increasing returns to scale (also known as economies of scale) occurs when average cost is ...
a) Increasing returns to scale (also known as economies of scale) occurs when average cost is [CHOOSE] ["minimized", "steady", "rising", "maximized", "falling"] . b) Decreasing returns to scale (diseconomies of scale) occurs when average cost is [CHOOSE] ["maximized", "minimized", "falling", "steady", "rising"] . c) When marginal...
A firm’s marginal cost decreases when it has _______ and its long run average total cost...
A firm’s marginal cost decreases when it has _______ and its long run average total cost decreases when it has _______. A. diminishing marginal returns, decreasing returns to scale B.diminishing marginal returns, increasing returns to scale C. diminishing marginal returns, economies of scope D.increasing marginal returns, increasing returns to scale E. increasing marginal returns, decreasing returns to scale increasing returns to scale increasing marginal returns, decreasing returns to scale
A firm’s marginal cost decreases when it has _______ and its long run average total cost...
A firm’s marginal cost decreases when it has _______ and its long run average total cost decreases when it has _______. A. diminishing marginal returns, decreasing returns to scale B.diminishing marginal returns, increasing returns to scale C. diminishing marginal returns, economies of scope D.increasing marginal returns, increasing returns to scale E. increasing marginal returns, decreasing returns to scale
Total cost falls when marginal cost is and total cost rises when marginal cost is A....
Total cost falls when marginal cost is and total cost rises when marginal cost is A. zero; positive B. zero; negative C. positive; negative D. negative; positive
20. When the average product of labor is decreasing, which of the following would you expect...
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Aver...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
(Click to select) economies of scale a. Long-run average total cost falls as the firm realize: rises when the firm experiences [ (Click to select) diseconomies of scale diminishing marginal returns increasing marginal returns b. The minimum efficient scale is the level of output produced by the smallest firm in the industry. smallest level of output at which a firm can produce. only level of output where long-run average total costs are minimized. smallest level of output needed to attain...
Total cost falls when marginal cost is and total cost rises when marginal cost is A. zero; positive B. zero; negative C. positive; negative D. negative; positive
20. When the average product of labor is decreasing, which of the following would you expect to see? a. Average total cost is decreasing b. Average variable cost is increasing c. Marginal cost is decreasing d. Marginal product is greater than average product 21. When a firm is experiencing economies of scale, the slope of the long run average cost (LRAC) curve is This implies that the marginal cost curve lies the LRAC curve. a. Positive; above b. Positive; below...
19. Table 13-16 Quantity Total Cost Fixed Cost Variable Cost Marginal Cost Average Fixed Cost Average Variable Average Total Cost 0 $24 $16 $50 $108 Refer to Table 13-16. What is the fixed cost of producing units of output? a. $16 b. $24 C. $12 d. $0 20. Refer to Table 13-16 in Question 19. What is the total cost of producing 2 units of output? a $76 b. $74 C. $58 d. $50 21. Refer to Table 13-16 in...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
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